Free Markets, Free People
Economic Statistics for 2 Jul 12
Here are today’s statistics on the state of the economy:
The ISM manufacturing index shows a contacting manufacturing sector for the first time since July 2009, falling to 49.7 in June. New orders, at 47.8, show contraction for the first time since April 2009, and point to the possibility of a slower July, as well. Inventories and prices also fell.
Markit Economics’ PMI for the US slowed to 52.5 in May, vice 54 for April.
Construction spending rose a better-than-expected 0.9% in May, following a 0.6% rise in April. On a year-over-year basis, spending was up 7.0%.